Imperial Medical Plaza | 3680 E Imperial Hwy
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Imperial Medical Plaza 3680 E Imperial Hwy
65,318 SF 85% Leased Office Building Lynwood, CA 90262 $14,000,000 ($214/SF) 7.08% Cap Rate
Investment Highlights
- VALUE-ADD ON-CAMPUS OUTPATIENT MEDICAL INVESTMENT OPPORTUNITY IN LOS ANGELES AREA
Executive Summary
VALUE-ADD ON-CAMPUS OUTPATIENT MEDICAL INVESTMENT OPPORTUNITY IN LOS ANGELES AREA
* Rare opportunity to acquire a value-add purpose-built outpatient medical building adjacent to the St. Francis Medical Center campus, an established 384-bed hospital, in Lynwood, CA.
* Campus Adjacent – Within 250 yards of St. Francis Medical Center yielding higher reimbursements for tenants affiliated with the hospital.
* Currently ±74.5% leased to a mix of 12 established medical tenants ranging from 1,090 to 8,383 SF with ~2.2 years weighted-average lease term.
* New ownership may lease up vacancy at rents 15-20% higher by offering market facing leasing concessions attracting high credit health systems that make long term lease commitments.
STRONG OUTPATIENT MEDICAL MARKET FUNDAMENTALS IN MID-COUNTY
* The Mid-Counties outpatient medical market is comprised of 29 outpatient medical properties totaling approximately 1.3m SF with a very low vacancy rate of 7.9%, as of 4Q23.
* The Lynwood area is an established outpatient medical submarket with a high concentration of outpatient medical tenants due to St. Francis Medical Center’s presence dating back to 1945.
* Presently, there are only four midrise outpatient medical buildings that service Lynwood and the surrounding area totaling 255K SF, with no new construction slated. Imperial Medical Plaza is the only purpose-built outpatient medical building offering large blocks of space at this price point.
* Rare opportunity to acquire a value-add purpose-built outpatient medical building adjacent to the St. Francis Medical Center campus, an established 384-bed hospital, in Lynwood, CA.
* Campus Adjacent – Within 250 yards of St. Francis Medical Center yielding higher reimbursements for tenants affiliated with the hospital.
* Currently ±74.5% leased to a mix of 12 established medical tenants ranging from 1,090 to 8,383 SF with ~2.2 years weighted-average lease term.
* New ownership may lease up vacancy at rents 15-20% higher by offering market facing leasing concessions attracting high credit health systems that make long term lease commitments.
STRONG OUTPATIENT MEDICAL MARKET FUNDAMENTALS IN MID-COUNTY
* The Mid-Counties outpatient medical market is comprised of 29 outpatient medical properties totaling approximately 1.3m SF with a very low vacancy rate of 7.9%, as of 4Q23.
* The Lynwood area is an established outpatient medical submarket with a high concentration of outpatient medical tenants due to St. Francis Medical Center’s presence dating back to 1945.
* Presently, there are only four midrise outpatient medical buildings that service Lynwood and the surrounding area totaling 255K SF, with no new construction slated. Imperial Medical Plaza is the only purpose-built outpatient medical building offering large blocks of space at this price point.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
65,318 SF
Building Class
B
Year Built
1982
Price
$14,000,000
Price Per SF
$214
Cap Rate
7.08%
NOI
$991,227
Percent Leased
85%
Tenancy
Multiple
Building Height
5 Stories
Typical Floor Size
13,064 SF
Slab To Slab
11’
Building FAR
0.75
Lot Size
2.01 AC
Zoning
HMD, Lynwood
Parking
250 Spaces (3.83 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Property Manager on Site
- Signage
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
3 exam rooms and open area with sink
2 Classrooms, Faculty Suite, Storage, & Reception.
Medical Space with 8 exam rooms, doctor's office, kitchen, one restroom, storage room, and lobby and reception.
- 4th Fl-Ste 460
- 966 SF
- Office/Medical
- Partial Build-Out
- Now
| Space | Size | Space Use | Condition | Available |
| 2nd Fl-Ste 250 | 2,098 SF | Office/Medical | Partial Build-Out | Now |
| 3rd Fl-Ste 360 | 3,471 SF | Office | - | Now |
| 4th Fl-Ste 405 | 3,305 SF | Office | Partial Build-Out | Now |
| 4th Fl-Ste 460 | 966 SF | Office/Medical | Partial Build-Out | Now |
2nd Fl-Ste 250
| Size |
| 2,098 SF |
| Space Use |
| Office/Medical |
| Condition |
| Partial Build-Out |
| Available |
| Now |
3rd Fl-Ste 360
| Size |
| 3,471 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
4th Fl-Ste 405
| Size |
| 3,305 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
4th Fl-Ste 460
| Size |
| 966 SF |
| Space Use |
| Office/Medical |
| Condition |
| Partial Build-Out |
| Available |
| Now |
2nd Fl-Ste 250
| Size | 2,098 SF |
| Space Use | Office/Medical |
| Condition | Partial Build-Out |
| Available | Now |
3 exam rooms and open area with sink
3rd Fl-Ste 360
| Size | 3,471 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
2 Classrooms, Faculty Suite, Storage, & Reception.
4th Fl-Ste 405
| Size | 3,305 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
Medical Space with 8 exam rooms, doctor's office, kitchen, one restroom, storage room, and lobby and reception.
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Walk Score ®
Very Walkable (83)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $5,466,344 | |
| Land Assessment | $2,733,137 | Total Assessment | $8,199,481 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$2,733,137
Improvements Assessment
$5,466,344
Total Assessment
$8,199,481
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Imperial Medical Plaza | 3680 E Imperial Hwy
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